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Dec 1, 2012
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the week center on a big worry. >> this fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> we could actually go off the fiscal cliff. >> we're facing a fiscal grand canyon. >> okay. so it's a big deal. question is can these guys strike a deal? >> i've got to repeat. i've got a pen. >> meantime, damage control for u.n. ambassador susan rice out to smooth things over with this week with republicans after those benghazi talking point. >> exextremist elements came to the consulate as this was unfolding. >> it didn't work. now their talking points. >> we are significantly troubled. >> i want to say that i'm more troubled today. >> democrats shot back. >> they are not only blaming her for this intelligence report, they are trying to blame her for the actual tragic event. >> i've seen so much crazy stuff in this house could i write a book. >> or make an internet video. >> not be a true god-fearing person and be on a television show like that. >> that's actor angus t. jones, the "two and a half men" star caught slamming his own tv show. >> if you watch "two and a half men," please don't watch "two a
the week center on a big worry. >> this fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> we could actually go off the fiscal cliff. >> we're facing a fiscal grand canyon. >> okay. so it's a big deal. question is can these guys strike a deal? >> i've got to repeat. i've got a pen. >> meantime, damage control for u.n. ambassador susan rice out to smooth things over with this week with republicans after those benghazi talking point. >>...
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Jan 4, 2013
01/13
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a metaphor cliff. >> fiscal cliff. >> the fiscal cliff. >> over the cliff. >> so-called fiscal cliff. >> or maybe not. ♪ the hills are alive >> cue julie andrews in "the sound of music." >> it's not a cliff. it's a slope. >> it's more of a slope. >> hill, cliff, slope, be honest. it felt more like this. >> this place is starting to have the feel of the movie "groundhog day." >> this is pitiful. >> at least the movie made you laugh. this was more like "the hurt locker." >> congress set this time bomb. now they're scrambling to defuse it. >> call it what you will, it became a bill. and new metaphor. >> kick the can down the road. >> that's just kicking the can down the road. >> kicking that can. >> kicking the can. >> we're done with kicking this can down the road. we grabbed that can, and that can is called spending cuts -- >> but hey, we're not blameless. >> that's congressional malpractice. >> economic storm of our own making. >> we are in detox from our fiscal cliff addiction. >> but the masters reside in the halls of congress. >> like a bull in a china closet. >> like sales peopl
a metaphor cliff. >> fiscal cliff. >> the fiscal cliff. >> over the cliff. >> so-called fiscal cliff. >> or maybe not. ♪ the hills are alive >> cue julie andrews in "the sound of music." >> it's not a cliff. it's a slope. >> it's more of a slope. >> hill, cliff, slope, be honest. it felt more like this. >> this place is starting to have the feel of the movie "groundhog day." >> this is pitiful. >> at...
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Nov 9, 2012
11/12
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let's go back to the fiscal cliff. we also should get a little counter for the fiscal cliff. 53 days. christine's got an update on what it will mean if we hit it in 53 days. >> pretty alarming report out from the congressional budget office about this. it said in the post-election report on the fiscal cliff, it will lead to a recession and a spike in unemployment to 9.1%. congress, running out of time to prevent taxes rising for everyone and to prevent across-the-board 8% to 10% cuts for agencies like the fda, cdc, border patrol, education. the cdc director has said this, the reduction will risk costly and deadly spread of disease, and failures to prevent tragic and expensive health problems. every government agency is trying to figure out what these cuts will do to their ability to work for the people. the cbo also found that raising taxes just on the wealthy would not meaningfully hurt economic growth. quick check of the market right now. u.s. stock futures are mixed. the dow and the s&p 500 stock futures are down. n
let's go back to the fiscal cliff. we also should get a little counter for the fiscal cliff. 53 days. christine's got an update on what it will mean if we hit it in 53 days. >> pretty alarming report out from the congressional budget office about this. it said in the post-election report on the fiscal cliff, it will lead to a recession and a spike in unemployment to 9.1%. congress, running out of time to prevent taxes rising for everyone and to prevent across-the-board 8% to 10% cuts for...
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Nov 15, 2012
11/12
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we're at 47 days still the fiscal cliff shows up. most of what we hear about the fiscal cliff is panic and alarm and tax hikes and spending cuts and all of this is set to kick off at the beginning of the year. face the dire consequences or else. get your parachute. guess what, there's somebody who knows a thing or two about money who doesn't seem to be anywhere near as worried as those other people who are telling us we're about to plummet. it's billionaire warren buffett. he says as long as president obama holds firm on the wealthiest americans paying more taxes, we can just go on right over that fiscal cliff and we will not dive back into recession. how do i know this? because poppy harlow knows this. she sat down for the exclusive interview. you have the greatest access to warren. every time there's news, you seem to get it. i was looking at your interview earlier. he's very candid with you about this. this doesn't look like it's for political gain in any way. we're past the election. it's incredible what he said. >> it really sur
we're at 47 days still the fiscal cliff shows up. most of what we hear about the fiscal cliff is panic and alarm and tax hikes and spending cuts and all of this is set to kick off at the beginning of the year. face the dire consequences or else. get your parachute. guess what, there's somebody who knows a thing or two about money who doesn't seem to be anywhere near as worried as those other people who are telling us we're about to plummet. it's billionaire warren buffett. he says as long as...
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Jan 3, 2013
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and the reason had to do with the fiscal cliff, ashley. all day long yesterday the speaker was getting an earful from his members that there weren't spending cuts in this fiscal cliff deal. so i'm told by reliable republican sources he simply felt the last thing he could do politically for internal politics was to put a vote on the floor right afterwards with $60 billion in new spending that's not paid for. that's the reason why you heard chris christie in new jersey really getting personal and really talking about palace intrigue and interparty politics because that's what went on. it was just the feeling that it was just too much tumult in a toxic environment when it comes to spending. >> i'm not sure i understand whether it was displeasing tumult or tumult that would jeopardize getting an actual bill. i didn't see that point being maid. if that's what the speaker meant, if that was the merit of his argument for not holding that vote why didn't he say that? >> reporter: his aides said it this morning. it certainly wasn't telegraphed in a
and the reason had to do with the fiscal cliff, ashley. all day long yesterday the speaker was getting an earful from his members that there weren't spending cuts in this fiscal cliff deal. so i'm told by reliable republican sources he simply felt the last thing he could do politically for internal politics was to put a vote on the floor right afterwards with $60 billion in new spending that's not paid for. that's the reason why you heard chris christie in new jersey really getting personal and...
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Dec 6, 2012
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who will blink first on the fiscal cliff? not the obama administration as timothy geithner told cnbc, bring it on. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> taxpayers might think that's easy for geithner to say. what about all those middle class families whose tax will go up more than $2,000 if, as geithner suggests, we take a dive off that cliff? even though president obama and john boehner chatted on the phone, there's still no deal. republicans are not amused. >> incredibly, many top democrats, including the president, seem perfectly happy. perfectly happy to go off the cliff. that's why the president has been more interested in campaign rallies than actually negotiating a deal. >> many americans don't have much hope the two side also come up with a deal. they've moved on already to plan b. the retired teacher in utah has put off plans to get a new car. brian chandler,
who will blink first on the fiscal cliff? not the obama administration as timothy geithner told cnbc, bring it on. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> taxpayers might think that's easy for geithner to say. what about all those middle class families whose tax will go up more than $2,000 if, as geithner suggests, we...
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Nov 8, 2012
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much of it is being attributed to the fiscal cliff. which, by the way, how does that have any bearing on whether it was obama or romney. that fiscal cliff is there. >> one things i think stocks did not continue yesterday to si sell-off in part because of the sound bites you play, the first day after the election, the major players coming out. >> people are that gullible? >> it's not gullible. investors need a signal they will get this fixed. the stock market is still down. it didn't rally. the world needs a signal the biggest economy and the biggest democracy in the world is not going to fall apart over partisan politics. >> the president's victory speech where he said he need to work together, et cetera, that's not enough of a signal? >> they need to show how. i need to see them dancing, not fighting. i need to see exactly what john boehner, the speaker of the house, means by, we're open to additional revenues if, you know, we need to know what that's going to be. the they will be the classic washington horse trading start to begin bu
much of it is being attributed to the fiscal cliff. which, by the way, how does that have any bearing on whether it was obama or romney. that fiscal cliff is there. >> one things i think stocks did not continue yesterday to si sell-off in part because of the sound bites you play, the first day after the election, the major players coming out. >> people are that gullible? >> it's not gullible. investors need a signal they will get this fixed. the stock market is still down. it...
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Nov 9, 2012
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what is the fiscal cliff? it's spending cuts, all begins at the beginning of the year, a bush tax cuts expire, that means everyone's taxes would rise. alternative minimum tax patch goes away, the payroll tax holiday goes away. unemployment extension goes away. the congressional budget office says it would certainly push the u.s. into a recession. no one wants us to go there. the problem now is figuring out how to fix it. possible scenarios. you could have congress kick the can down the road. just extend current policy for six months. that would cast a shadow over the business community. you could fall off the fiscal cliff like paul krugman is suggesting. stocks would dive. i don't know how many days it would take them to do something and then boom congress would move and you could have this grand bargain on deficit reduction. they need a budget. they need to agree on how we're going to spend our money and invest. that's what these two have to agree on. what does it mean for you? if you go off the fiscal cliff,
what is the fiscal cliff? it's spending cuts, all begins at the beginning of the year, a bush tax cuts expire, that means everyone's taxes would rise. alternative minimum tax patch goes away, the payroll tax holiday goes away. unemployment extension goes away. the congressional budget office says it would certainly push the u.s. into a recession. no one wants us to go there. the problem now is figuring out how to fix it. possible scenarios. you could have congress kick the can down the road....
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Nov 26, 2012
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to that fiscal cliff? the number three republican in the house, kevin mccarthy is going to be here in "the situation room." the house majority whip. and also alan krueger, the chairman of the president's council of economic advisers is going to be here as well. we're trying to gauge if there's going to be a deal or no deal and what it means for our viewers. glad you noticed, brooke. >> of course i noticed. i was so proud of you. i was proud of cnn. i thought the coverage was incredible, watching back here in the u.s. but i have to ask, i know you have a daughter and a lovely wife. did you get a chance to have a thanksgiving? >> yes, i got back in time for thanksgiving. i flew all night. tel aviv, frank forfurtrankfurt here to d.c. i had turkey and cranberry sauce and all that. here's a question i'm going to ask you, brooke -- a year ago last night, where were you -- >> ding. b.e.t. soul train awards. >> did you watch last night? >> i did not. >> what do you mean you did not? i watched, of course. >> if i'm
to that fiscal cliff? the number three republican in the house, kevin mccarthy is going to be here in "the situation room." the house majority whip. and also alan krueger, the chairman of the president's council of economic advisers is going to be here as well. we're trying to gauge if there's going to be a deal or no deal and what it means for our viewers. glad you noticed, brooke. >> of course i noticed. i was so proud of you. i was proud of cnn. i thought the coverage was...
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Jan 2, 2013
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. >>> and then averting the fiscal cliff. we are going live to wall street for an update. >>> paul ryan says, quote, wasn't afraid to vote yes on the fiscal cliff deal. could that be a sign for 2016? i am wolf blitzer, and you are in the "the situation room." >>> if the gop house of representatives thought they were feeling the heat for the fiscal cliff, they did but it may have been nothing compared to what they are feeling now. the bite bg backlash coming from prominent members of their own party, they are blasting last night's decision to end the 112th congress without approving a $60 billion aid package for the thousands of victims still suffering from the super storm sandy. leading the charge, a rising star in the party, and a possible 2016 presidential contender, the new jersey governor, chris christie. >> i will not in the specifics with what i discussed with john boehner today, but there is no reason for me at the moment to believe anything they tell me because they have been telling me stuff for weeks, and they didn'
. >>> and then averting the fiscal cliff. we are going live to wall street for an update. >>> paul ryan says, quote, wasn't afraid to vote yes on the fiscal cliff deal. could that be a sign for 2016? i am wolf blitzer, and you are in the "the situation room." >>> if the gop house of representatives thought they were feeling the heat for the fiscal cliff, they did but it may have been nothing compared to what they are feeling now. the bite bg backlash coming...
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Nov 4, 2012
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but first the fiscal cliff. unless congress act, the spending cuts and tack increases that would be triggered automatically next january would take 5.1% out of the country's gdp in one year according to the congressional bucket office. that would be one of the most severe experiments with austerity in history, larger than anything greece, spain, italy, or the united kingdom has tried. in fact, it's almost three times the size of britain's austerity program. and the results of those european programs have thus far been a dramatic slowdown in economic growth and a sharp spike in unemployment. once again, the rhett of the world watches to see if the united states, the center of the global economy, will actually commit economic suicide. the most puzzling aspect of our dilemmas is how manageable they are. unlike greece or spain or even britain, the united states has a fundamentally healthy economy. we have problems, but we have solutions to them. the true virtue of the simpson-bowles deficit reduction plan is that it
but first the fiscal cliff. unless congress act, the spending cuts and tack increases that would be triggered automatically next january would take 5.1% out of the country's gdp in one year according to the congressional bucket office. that would be one of the most severe experiments with austerity in history, larger than anything greece, spain, italy, or the united kingdom has tried. in fact, it's almost three times the size of britain's austerity program. and the results of those european...
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Dec 13, 2012
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the fiscal cliff. we want to talk to congressman james langford, a republican from the state of oklahoma. nice to have you with us, sir. we appreciate your time. >> thank you. >> you have in all seriousness been warned not to make plans for christmas. what do you think is the likelihood in fact that a deal would be done before christmas, number one? and what exactly are they telling you to do or not do? >> at this point we've been told by eric cantor and speaker boehner just to hold the schedule through the rest of the year. that's the same thing we heard right after the election. hang on to the calendar and we'll watch and see how this unfolds. obviously americans work through the holidays a lot and so as members of the house and senate, we'll continue to do that as well. >> how will it work low gistically. you're done today, right? the last working day, you're off tomorrow. do you go anyway and everybody is just on call meaning you'd be brought back to do some sort of a vote? >> americans loose track
the fiscal cliff. we want to talk to congressman james langford, a republican from the state of oklahoma. nice to have you with us, sir. we appreciate your time. >> thank you. >> you have in all seriousness been warned not to make plans for christmas. what do you think is the likelihood in fact that a deal would be done before christmas, number one? and what exactly are they telling you to do or not do? >> at this point we've been told by eric cantor and speaker boehner just...
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the fiscal cliff solution is making a lot of people unhappy. congressman peter welch from vermont voted for it last night, it's good to have you. >> thank you. >> something you said yesterday just before the vote "as a fiscal package going forward to stabilize this country, this deal falls well short." are you confident that as we move over to the next two months and start talking about the sequestration and the debt ceiling, considering all of the infighting we saw over the last few months, that we will get to a fiscal package that stabilizes this country? >> it's going to be very rough. that's the undone work so anyone who tries to claim this as a huge victory is overselling it. what is significant say couple of things and i give speaker boehner credit for this. he put this on the floor when he knew a majority of the caucus would vote no but a majority of democrats would vote yes. we have a bipartisan deal that is helpful in the short run. secondly revenues did go up on the top 2% and we kept taxes low on 98% and third after the dust settles
the fiscal cliff solution is making a lot of people unhappy. congressman peter welch from vermont voted for it last night, it's good to have you. >> thank you. >> something you said yesterday just before the vote "as a fiscal package going forward to stabilize this country, this deal falls well short." are you confident that as we move over to the next two months and start talking about the sequestration and the debt ceiling, considering all of the infighting we saw over...
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Jan 3, 2013
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he was with the minority on the fiscal cliff vote, the senate bill to the house. there was a minority of republicans who voted in favor of it. he voted in favorite of it, and made a point of voting in favorite of it, even though it's traditionally the speaker trying to avoid a lot of votes. in this particular case the speaker wanted to specifically point out he was in favor of this fiscal cliff vote, avoiding what's called the fiscal cliff, even though the number two republican eric cantor, the majority leader voted against it. the number three republican kevin mccarthy, majority whip he voted against it. john boehner made a point of doing what he thought was right to prevent middle class families from seeing a tax increase as he explained it, if you will. so i suspect even though he's got some problems within his own coalition, the republican coalition, he'll get himself re-elected speaker in part because i don't see a whole lot of others jumping up to challenge him. >> wolf, we know a lot of big issues are coming up. the president in the second term wants to see
he was with the minority on the fiscal cliff vote, the senate bill to the house. there was a minority of republicans who voted in favor of it. he voted in favorite of it, and made a point of voting in favorite of it, even though it's traditionally the speaker trying to avoid a lot of votes. in this particular case the speaker wanted to specifically point out he was in favor of this fiscal cliff vote, avoiding what's called the fiscal cliff, even though the number two republican eric cantor, the...
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Nov 15, 2012
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, the fiscal cliff that's coming, the financial crisis, that's going to take some work on capitol hill to get $30 billion for new york if it's approved and then consider maryland and new jersey and connecticut and on up the coast. the people here know it takes a lot of time and money and hope there's the support not only from the president but from places like this, like this salvation army here on mid land avenue where they have been handing out water and food and supplies for 17 days now. since the storm. they tell us that they have supported 5,000 people at this location alone and people have been coming nonstop. and again, this is 17 days after the storm. a lot of these people lost everything and they hope the president and the governor and mayor bloomberg and the delegations who showed up understand that it's going to take time and support. >> victor blackwell, thank you so much from staten island. appreciate that. >>> major stories including crisis developing overseas aziz real and militants in gaza step up attacks against each yoer. >>> plus, at any minute now u.s. attorney gene
, the fiscal cliff that's coming, the financial crisis, that's going to take some work on capitol hill to get $30 billion for new york if it's approved and then consider maryland and new jersey and connecticut and on up the coast. the people here know it takes a lot of time and money and hope there's the support not only from the president but from places like this, like this salvation army here on mid land avenue where they have been handing out water and food and supplies for 17 days now....
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Nov 5, 2012
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with the fiscal cliff. it's called his deficit reduction plan, and he has made a couple of things clear. that we can't reduce the deficit without putting revenue on the table, and i think that on election day the overwhelming majority of the american people are going to agree with him. he is also going to not agree to anything that extends as high-end bush tax cuts. you know, the way forward on the fiscal cliff is pretty clear. i think that when the american people vote on tuesday they're going to make their feelings on the way forward clear, and hopefully that means that we'll have some more willing partners across the aisle to forge consensus on this. >> let's talk about the willing partners because right now the republican campaign is arguing, well, if you put mitt romney in another republican, is he going to work better with fellow republicans to avoid falling off this cliff. we expect the balance of power and the house and senate basically are iffing to stay the same. what will the president do to chan
with the fiscal cliff. it's called his deficit reduction plan, and he has made a couple of things clear. that we can't reduce the deficit without putting revenue on the table, and i think that on election day the overwhelming majority of the american people are going to agree with him. he is also going to not agree to anything that extends as high-end bush tax cuts. you know, the way forward on the fiscal cliff is pretty clear. i think that when the american people vote on tuesday they're going...
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Nov 19, 2012
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optimism the fiscal cliff will be resolved. that's pushing up markets worldwide today. >>> in today's smart is the new rich. prepare yourself. it's about to begin. the annual black friday retail hype machine. it's not black friday anymore. many major retailers will open again on thanksgiving. it worked well for them last year. black thursday, here you come. 70% of in-store sales can be nabbed online. here's what deal news says. do not buy on black friday, one, toys. you'll find better prices on toys in the two weeks before christmas. wait a few more weeks. two, brand name hd tvs. you can find deems on third tier manufacturers. but the brand names are best bought in january or february. three, jewelry and watches. deal news says don't buy any piece of jewelry or a watch over the whole holiday season. they're just as expensive as around valentine's day. valentine's day and the holidays, bad for jewelry. four, winter apparel. you can find cheap clothes. but winter clothes like gloves and hats, you can get them much cheaper in janu
optimism the fiscal cliff will be resolved. that's pushing up markets worldwide today. >>> in today's smart is the new rich. prepare yourself. it's about to begin. the annual black friday retail hype machine. it's not black friday anymore. many major retailers will open again on thanksgiving. it worked well for them last year. black thursday, here you come. 70% of in-store sales can be nabbed online. here's what deal news says. do not buy on black friday, one, toys. you'll find better...
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Nov 10, 2012
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. >>> and with a fiscal cliff looming and the balance of power pretty much the same, will lawmakers be able to compromise their differences to avoid going off the cliff? [ male announcer ] when a major hospital wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby and good night" ] ♪ af-lac ♪ aflac [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. [ yawning sound ] introducing the new 13-inch macbook pro,usiness.com. ♪ with the stunning retina display. ♪ for the pro in all of us. 100% new. 100% mmm... wow, that is mmm... it's so mmm you might not believe it's a hundred calories. new yoplait greek 100. it is so good. with odor free aspercreme. powerful medicine relieves pain fast, with no odor. so all you notice is relief. aspercreme. >>> so the big question now regarding petraeus, was our national security put at risk by the nation's top spy, having an extramarital affair? the u.s. official says the fbi was worried that general petraeus could have b
. >>> and with a fiscal cliff looming and the balance of power pretty much the same, will lawmakers be able to compromise their differences to avoid going off the cliff? [ male announcer ] when a major hospital wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby and good night" ] ♪ af-lac ♪ aflac [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ]...
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i'm talking about the fiscal cliff. those drastic spending cuts and tax hikes that kick in if president obama and congress don't strike a budget deal by the end of the year. tom foreman reports the president could get some pointers from a former president who was also a master negotiator, abraham lincoln. >> reporter: for those looking for inspiration in these troubled times, the new movie "lincoln" may be just what the director ordered. by all accounts, a mix of personal and political wisdom. >> it is a self-evident truth of things which are equal to the same thing are equal to each other. >> reporter: at the white house, president obama has long admired the 16th president. he took the oath on the same bible lincoln used. he stopped by the lincoln memorial. he often reads about lincoln and he's quite fond of quoting the rail splitter. >> i'm far more mindful of my own failings knowing exactly what lincoln meant when he said i have been driven to my knees many times by the overwhelming conviction that i had no place els
i'm talking about the fiscal cliff. those drastic spending cuts and tax hikes that kick in if president obama and congress don't strike a budget deal by the end of the year. tom foreman reports the president could get some pointers from a former president who was also a master negotiator, abraham lincoln. >> reporter: for those looking for inspiration in these troubled times, the new movie "lincoln" may be just what the director ordered. by all accounts, a mix of personal and...
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the fiscal cliff. you've heard me talk about this. it's this coming wave of tax increases and huge spending cuts that as it stands right now is going to hit if congress doesn't do anything. i want to tell you how that's going to affect jobs. it looks as though that will be a million job cuts over two years. i told you the congressional budget office already said there would be a recession early next year in the fiscal cliff hit. those are going to be good paying jobs cut from contractors, government, military contractors. they're all bracing, all bracing for this fiscal cliff because the easiest thing to cut quickly, if we have to cut half out of defense spending would be to really quickly just close down a bunch of got contracts with these big contractors. there's a lot of uncertainty. >> you mentioned this is going to spiral down. >> this keeps me up at night because -- >> i thought europe did. >> europe and the fiscal cliff. >> at the end of the day it's all connected. >> thank you, christine. >> catching tax cheats is easy when th
the fiscal cliff. you've heard me talk about this. it's this coming wave of tax increases and huge spending cuts that as it stands right now is going to hit if congress doesn't do anything. i want to tell you how that's going to affect jobs. it looks as though that will be a million job cuts over two years. i told you the congressional budget office already said there would be a recession early next year in the fiscal cliff hit. those are going to be good paying jobs cut from contractors,...
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. >>> but first, the president has a plan to avoid the fiscal cliff. but republican house speaker john boehner dismisses it as, and i'm quoting, la la land. the republicans offered their proposal, that happened about 24 hours ago. the white house quickly labels it as nothing new. business as usual, right? so how do we move beyond this stalemate in washington? we heard from the president, just a short time ago. our chief white house correspondent jessica yellin joins me now, jessica, the president spoke out, sat down in an interview with bloomberg tv, and in listening to the interview, did you hear any clues toward a possible compromise here? >> reporter: not new clues, brooke. the president laid down the marker that we heard from the white house consistently, which is they aren't moving until they hear the republicans agree to raise tax rates on the wealthiest. listen to what the president had to say. >> i think that, you know, we have the potential of getting a deal done, but it is going to require what i talked about during the campaign, which is a b
. >>> but first, the president has a plan to avoid the fiscal cliff. but republican house speaker john boehner dismisses it as, and i'm quoting, la la land. the republicans offered their proposal, that happened about 24 hours ago. the white house quickly labels it as nothing new. business as usual, right? so how do we move beyond this stalemate in washington? we heard from the president, just a short time ago. our chief white house correspondent jessica yellin joins me now, jessica,...
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>> i talked to the speaker just before the vote occurred on the fiscal cliff bill. and i asked him, i said i've got to tell my members to stay here for the vote. is this bill going to come on the floor today or tomorrow? and he said, well, we'll have to make that determination after this vote. that's the last time i talked to the speaker. the next i heard was from peter king of new york who was told by mr. cantor who was told by a staffer of the speaker that they had decided not to put the bill on the floor. i don't know the reason. whatever the reason was, it was not justified. so many members pointed out when we had the katrina damage, which was also a very broad-based natural disaster -- >> ten or 11 days. >> we acted within ten or 11 days, $60 billion. >> yeah. >> we acted with alacrity. we're now some 60 plus days later and we haven't acted. it is a tragedy. it is unacceptable. and i would hope the speaker would bring this legislation forward in the next few days. while leaving one congress to go into another, this ought to be a priority and we ought to do it t
>> i talked to the speaker just before the vote occurred on the fiscal cliff bill. and i asked him, i said i've got to tell my members to stay here for the vote. is this bill going to come on the floor today or tomorrow? and he said, well, we'll have to make that determination after this vote. that's the last time i talked to the speaker. the next i heard was from peter king of new york who was told by mr. cantor who was told by a staffer of the speaker that they had decided not to put...
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but what is the impending fiscal cliff really mean for you? lisa sylvester's here. she's been checking this part of the story. it means a lot. tell our viewers. >> you know, wolf, when we talk about the fiscal cliff, there are really two parts. one is a sharp reduction in government spending. that will hit hard particularly the defense industry. there are contractors and subcontractors all around the country. the second part is the expiration of tax cuts that would likely mean less money in your pocket. at the whitlows on wilson restaurant in arlington, virginia, plenty of food and drink. but there's something else cooking up, worry. co-owner jonathan williams, concerned about the pending government fiscal cliff. >> there's a real simple correlation, people have jobs, they spend money. if people are worried about losing their jobs or don't have a job, then they're not going to go out that much. they're going to cook at home or stay at home. >> reporter: just a couple miles from the pentagon many of the patrons here work directly or indirectly for the defense departm
but what is the impending fiscal cliff really mean for you? lisa sylvester's here. she's been checking this part of the story. it means a lot. tell our viewers. >> you know, wolf, when we talk about the fiscal cliff, there are really two parts. one is a sharp reduction in government spending. that will hit hard particularly the defense industry. there are contractors and subcontractors all around the country. the second part is the expiration of tax cuts that would likely mean less money...